EssilorLuxottica acknowledged yesterday that the French Competition Authority (FCA) issued a decision against several eyewear industry players, including Luxottica Group. The Authority imposes to Luxottica a Euro 125 million penalty for the group’s conduct which took place between 2005 and 2014 in the optical frames and sunglasses sector in France. The decision closes an investigation initiated in 2005 which was considered insufficient by the FCA in 2017.

EssilorLuxottica announced that it firmly believes it has always conducted business according to the highest standard of compliance, always supporting customers, partners as well as the entire market. As such, the Company strongly disagrees with the Authority’s decision and considers the sanction highly disproportionate and groundless. The Company will appeal the decision, confident that it will successfully demonstrate that the decision is wrong both from a factual and a legal perspective.